Zacks Research Has Positive Outlook of AEP FY2024 Earnings

American Electric Power Company, Inc. (NASDAQ:AEP) – Investment analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of American Electric Power in a research report issued to clients and investors on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the company will post earnings of $5.63 per share for the year, up from their prior forecast of $5.59. The consensus estimate for American Electric Power’s current full-year earnings is $5.63 per share. Zacks Research also issued estimates for American Electric Power’s Q4 2024 earnings at $1.26 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.29 EPS, FY2025 earnings at $5.92 EPS, Q1 2026 earnings at $1.42 EPS and Q2 2026 earnings at $1.55 EPS.

AEP has been the topic of several other reports. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays cut their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.20.

American Electric Power Price Performance

AEP stock opened at $97.02 on Monday. American Electric Power has a one year low of $75.22 and a one year high of $105.18. The firm has a 50-day moving average of $98.55 and a two-hundred day moving average of $95.89. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $51.63 billion, a PE ratio of 19.44, a P/E/G ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

Institutional Trading of American Electric Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in American Electric Power in the 3rd quarter valued at $589,000. Sfmg LLC bought a new position in shares of American Electric Power during the third quarter valued at $221,000. World Investment Advisors LLC boosted its stake in shares of American Electric Power by 127.8% in the 3rd quarter. World Investment Advisors LLC now owns 5,539 shares of the company’s stock valued at $568,000 after purchasing an additional 3,108 shares in the last quarter. Tudor Financial Inc. acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $1,331,000. Finally, Chelsea Counsel Co. lifted its holdings in American Electric Power by 46.1% during the 3rd quarter. Chelsea Counsel Co. now owns 1,110 shares of the company’s stock valued at $114,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.